12 июля 2018, 23:41

Finance and accounting outsourcing


Most companies are wary of outsourcing. Where they have outsourced, IT and
HR business processes have been outsourced more readily than Finance and
Accounting processes. None core and high volume, low value processes have
been the most likely to be outsourced. 
More recently, some businesses have begun outsourcing at a more strategic
level not just to reduce costs in non-core processes but to improve business
performance. This is being driven by a number of factors: 
1.   Competitive and budgetary pressures  
• Decreasing budgets have forced businesses to evaluate strategies that
reduce costs in non-core processes. 
• Businesses are then better able to focus their more limited resources
on core competencies and activities which attract and retain
customers. 
2.   Advances in technology and communications  
• Operations are more independent of location than ever before. This is
due to rapid infrastructure improvements and cheaper communication
costs. 
• Globalisation gives access to resources and talent world-wide.   
• The internet provides new opportunities to collaborate with other
businesses on a global scale. 
3.  The need to transform the finance and accounting function  
• As an overhead, the finance and accounting function has come under 
scrutiny. It is challenged to become more efficient and more effective.  
• CFOs must demonstrate adherence to proper accounting principles
and disciplines, and provide improved decision support capabilities. 
• Outsourcing can be used to reduce costs in routine back office
processes and increasingly in higher value support services too. 
• Outsourcing can be used to achieve step changes and streamline 
unnecessarily complex business processes, systems and structures. 
Most companies are wary of outsourcing. Where they have outsourced, IT and HR business processes have been outsourced more readily than Finance andAccounting processes. None core and high volume, low value processes havebeen the most likely to be outsourced. More recently, some businesses have developed outsourcing at a more strategic level. This is being driven by a number of factors: 1. Competitive and budgetary pressures • Decreasing budgets. • Businesses are then better able to focus their more limited resources on core competencies and activities that attract and retaincustomers. 2. Advances in technology and communications • Operations are more independent of location than ever before. This isdue to rapid infrastructure improvements and cheaper communicationcosts. • Globalisation gives access to resources and talent world-wide. • The internet provides new opportunities to collaborate with otherbusinesses on a global scale. 3. The need to transform the finance and accounting function. It is challenged to become more efficient and more effective. • CFOs must demonstrate adherence to proper accounting principles and disciplines. • Outsourcing can be used to reduce costs in routine back office services.